March 22, 2010
iovation Positioned as a Niche Player in the Magic Quadrant for Web Fraud Detection Report
PORTLAND, Ore.- March 22, 2010 – iovation, provider of the world’s first device reputation service for preventing online fraud and abuse, today announced its inclusion in Gartner’s 2010 Magic Quadrant for Web Fraud Detection report.
“We pioneered the use of device reputation to help online businesses fight fraud and abuse, and we are extremely proud of the niche we’ve created,” said Greg Pierson, CEO and founder, iovation. “Our patented technology is highly effective at stopping first-time and repeat offenders, and easily complements both proprietary internal systems and third party fraud tools. Device reputation becomes the common denominator to link otherwise unrelated systems, which dramatically increases both the efficiency and effectiveness of fraud management teams.”
As online fraud continues to grow and evolve, iovation believes that it is well positioned to serve an integral role within a comprehensive fraud prevention strategy. With a globally shared device reputation database of more than 250 million devices, iovation offers a unique technology that allows online businesses to stay ahead of increasingly sophisticated, tech-savvy fraudsters. Serving customers in multiple industries, including financial services, retail, online gaming and online communities, iovation helps detect and prevent a wide array of fraud and abuse and currently stops over 30,000 fraudulent activities every single day.
“The iovation team has provided exceptional customer service. They treat us like partners, responding swiftly to our inquiries, and allowing us to more quickly and effectively stop fraud and abuse,” said John Kothanek, director of risk and fraud, Obopay. “iovation’s solution is not just a nice thing to have, it’s a necessity for our company. In fact, iovation alone has helped us reduce fraud by more than 90 percent.”
About the Magic Quadrant
The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About iovation
iovation, headquartered in Portland, Oregon, pioneered the use of device reputation to stop online fraud and abuse. Using its proven device recognition technology, sophisticated pattern matching, and device-based risk scoring, iovation delivers an innovative approach to fraud protection. Over the last five years, iovation has responded to billions of device reputation queries from merchants in multiple industries. The result is the world’s largest database of devices used in online fraud and abuse. iovation’s unmatched experience in device intelligence gives its customers the confidence they need to protect their good customers and keep the bad ones out. For more information, visit www.iovation.com.
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